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What Effect does non-compliance with FICA have on SA economy and foreign investment?
Wiki User
∙ 10y ago
Investors would prefer to invest in a country whose financial industry are well regulated, this regulation prevents corruption and makes it a safer haven for investors. Money laundering, by eroding confidence in the financial markets and institutions poses a considerable risk to the stability and soundness of financial systems. Money laundering has a negative impact on economic growth. the nature and extent of money laundering on emerging-market economies, like South Africa. Money laundering by its distortionary effect on economic data and thus on economic analysis and policy, is likely to have a negative impact on economic growth.
Wiki User
∙ 10y ago
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